There is heavy accumulation going on in the order book by someone who wants to load up as much as possible as this level. Likely a whale or two who want retail investors to exit out of frustration before it goes parabolic.
From the TA, it's clearly back-tested the broken channel the last few days.
My estimate for coming months is $280-$360. This accumulation has a strong correlation with NuCypher's price action prior to it's run up.
When this goes, there won't be enough time to catch it due to the year long coil up, hence I'm long here and will be holding steady until we cross the $300 mark.
From the TA, it's clearly back-tested the broken channel the last few days.
My estimate for coming months is $280-$360. This accumulation has a strong correlation with NuCypher's price action prior to it's run up.
When this goes, there won't be enough time to catch it due to the year long coil up, hence I'm long here and will be holding steady until we cross the $300 mark.